Many Financial Companies Still Don't Offer a Mobile App - eMarketer
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Many Financial Companies Still Don't Offer a Mobile App

Generally, consumers want mobile control of their banking activities

April 12, 2016 | Mobile

Though more than half (52%) of financial executives worldwide said their company offers a mobile app to clients, there are some that still do not, according to January 2016 research. In fact, nearly a third said they neither had one nor were developing one.

Financial Executives Worldwide Whose Company Offers a Mobile App, Jan 2016 (% of respondents)

PricewaterhouseCoopers (PwC) surveyed 544 executives involved in digital and technological transformation at financial institutions worldwide. Some 52% of respondents said their company offers a mobile app, and 18% of financial executives said their company is currently developing one.

Surprisingly, 30% of respondents said their company does not offer a mobile app.

Having a mobile app can be beneficial for financial companies. Indeed, younger US internet users are more plugged in to digital and mobile banking.

US Mobile* Users Who Are Interested in Mobile App-Based Account Control for Debit Cards, by Age, June 2015 (% of each group)

And not only are consumers increasingly using mobile banking apps, but they also want control of their banking activities. A June 2015 Mercator Advisory Group survey found that almost half of US smartphone or tablet users ages 18 to 24 are interested in mobile app-based account control for debit cards.

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